Some experts estimate the average US family of four wastes up to $2,000 or more per year on food they buy but don’t eat.
Given that nearly 70% of Americans can’t afford even a $1000 emergency bill, becoming smarter in how we manage our eating expenses just makes good sense. Here are a few ideas on how to make those food dollars stretch:
- Read the label – note that “sell by” does NOT mean “use by”… a food item can often still be good for consumption days, even weeks after that “sell by” date. Always check and make sure, however, that you do NOT eat items like dairy or meat after it’s safe.
- Track what you have – a common mistake is to buy groceries not realizing you’re duplicating items already in the pantry. Use a spreadsheet or some other tool and keep a current listing of what’s in the pantry so you know to only buy what’s running low.
- Never shop without a list – advertisers and grocers are wily in how they market items and locate them within the store. An eye-catching ad or display can compel impulse buying of items you hadn’t planned, don’t typically get, and could well end up in the trash.
- Control your portions – you don’t have to fill that plate to the brim. Smaller portions mean you can buy smaller quantities. Definitely an idea to help you watch your waste and your waist.
- Store properly – when you store produce properly you can help it last longer. For each fruit and vegetable you buy, find out how it should best be stored to help it ripen and last.
None of these ideas is going to make a huge difference in your portfolio, but I’m betting you’d agree that the old saying, “waste not, want not” remains pretty good advice.
One portion size I do recommend working to increase is what you have accumulated in your retirement portfolio. For help to make sure what’s there will keep you feasting happily, give us a call at 513-563-PLAN (7526) or book online to set up a free analysis.
Regards,
Dan Cuprill, CFP®
